SoundHound AI (SOUN: NSD) stock price took a tumble in after-hours trading on Thursday after the company reported lower-than-expected sales and earnings for the Q4.
Stock Target Advisor’s Take on SoundHound:
Stock Target Advisor rates SoundHound AI as a Strong Sell. Conversely, the average analyst target price stands at $4.60. The possible discrepancy highlights the optimistic hold of market analysts over their rating of ‘Strong Buy’ for SoundHound AI.
SoundHound AI’s stock is covered by five market analysts, all exhibiting faith in the company’s future with a ‘Strong Buy’ rating. The average target price is $4.60, with expectations ranging between $3.6 at the minimum, all the way to the $5 mark at maximum.
The software-application sector on the NSD Exchange boasts several stalwart stocks such as Intuit Inc, Workday Inc, among others. In the recent past, the sector has taken a small dip, with monthly returns of -2.35%. However, it recouped some of these losses over the last week, boasting a modest return of 0.44%.
SoundHound AI’s Recent Quarters Report:
The company’s Q4 miss throws cold water on the stock’s recent hot streak, with shares plummeting over 21% in after-hours trading. This significant drop reflects investor disappointment with the company’s performance, which fell short of analysts’ expectations.
While the specific details of the earnings report haven’t been released yet, the news is enough to spook investors who had been riding the wave of SOUN’s recent surge. It remains to be seen how the stock will perform in the coming days as investors digest the full picture of SoundHound’s Q4 results.
